Market Footprint , Various Trends and Developments in Respiratory Inhaler Market

Gobal respiratory inhaler market is estimated to be valued at US$ 27,779.9 million in 2017, and is expected to register a CAGR of 4.2%. The report offers in-depth insights, revenue details, and other vital information regarding the global respiratory inhaler market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026.

Respiratory inhaler is small, handheld devices used for consuming medicines through inhaling. It is used in treatment of asthma, chronic obstructive pulmonary disease, pulmonary arterial hypertension, and cystic fibrosis.

Increasing prevalence of respiratory diseases such as asthma and chronic obstructive across the globe is expected to drive the respiratory inhaler market. For instance, according to WHO data in 2015, there were 383,000 deaths caused due to asthma.

Continuous innovation of respiratory inhaler and use of medication sensor that automatically sends data to mobile app or PC, thus this advance technology in inhalers is expected to create positive impact on the market growth over the forecast period.

Company can manufacturer inhalers using Bluetooth technology which detect inhaler use, reminds patients for the intake of the medicine and gather data which improves effectiveness of the prescribed medications as compared to other inhaler.

The application segments, chronic obstructive pulmonary disease segment is expected to register highest CAGR of over 4.5% owing to its high prevalence of the disease. For instance, according to Global Burden of Disease Study reports, in 2016 prevalence of 251 million cases of COPD globally.

North America market is expected to dominate the global respiratory inhaler market, and it accounts for largest market revenue share of 34.3% in 2020 as compared to that of markets in other regions.

Furthermore, increasing number of approvals by health authorities such as US FDA, and Health Canada for respiratory inhalers and subsequent launch of these product is major factor fueling growth to the North America respiratory inhaler market and this trend is expected to continue in the future.

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The respiratory inhalers industry is highly fragmented with the presence of several players across the world thus making the market competitive. New product development, increasing number of product approvals from health authorities and subsequent product launches are the key strategies being adopted by the companies in order to strengthen their market position.

According to European COPD Coalition, 1.5% of total population of UK are currently diagnosed with chronic obstructive pulmonary diseases. According to British Lung Foundation in 2011, 1.2 Million people are living with diagnosed COPD in UK.

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